SHANGHAI, April 18, 2023 /PRNewswire/ — Everest Medicines (HKEX 1952.HK, “Everest” or the “Company”), a biopharmaceutical company focused on developing, manufacturing and commercializing innovative medicines and vaccines, today announced that it has signed a letter of intent has signed an agreement (“MoU”) for a strategic partnership with a subsidiary of Shanghai Pharma, SPH Keyuan Xinhua Pharmaceutical Co., Ltd. (“SPH Kyuan”). According to the MOU, Everest and SPH Kyuan will work closely together to promote the import and sales channel of XERAVA (eravacycline). China. SPH Kyuan’s leading position in drug import, nationwide distribution network and advanced logistics system will help expand the scale and speed of commercialization of XERAVA to help patients and meet the urgent unmet needs in the country.

XERAVA has been approved by the National Medical Products Administration (“NMPA”) of China for the treatment of complicated intra-abdominal infections (“cIAI”) in adult patients in March 2023and has been recommended by several treatment guidelines in China and worldwide with its broad bacterial spectrum coverage and high efficacy against multidrug-resistant bacterial infections. Everest plans to launch XERAVA commercially on the mainland China in the third quarter of this year.

“We are very pleased about the partnership with SPH Kyuan. SPH Kyuan’s rich experience in drug import and distribution channel will expedite the delivery of XERAVA to hospitals and patients in need,” said Rogers Yongqing Luo, Chief Executive Officer of Everest Medicines. “This partnership marks another step towards the successful commercialization of XERAVA and spearheads our pipeline with at least three additional products expected to be approved over the next two years.”

“Everest Medicines has very promising market potential in the areas of anti-infectives and kidney diseases. We are honored to enter into a strategic deal with Everest around XERAVA that will leverage the strengths of both parties,” he said Yu Rui,…